On the right side of AI The rapid progress of AI has raised legitimate concerns over the durability of parts of the software sector, weighing on several private equity trusts with exposure to the sector. We believe this to be overdone in the case of Oakley Capital Investments (OCI), which appears well positioned to benefit […]
On the right side of AI The rapid progress of AI (especially agentic AI) has raised legitimate concerns over the business models of some companies within the software sector, affecting several private equity trusts exposed to these sorts of businesses. We believe these concerns are overstated for the companies in Oakley Capital Investments’ (OCI) portfolio. […]
On the right side of AI? Progress in the capabilities of agentic AI has raised concerns for some investors over the durability of parts of the software sector, weighing on several private equity trusts with exposure to the sector. However, the managers of Oakley Capital Investments (OCI) feel it is well positioned to benefit from […]
A listed gateway to private AI Shaires Holdings Ltd (SHR) is seeking to provide public market investors with exposure to some of the world’s largest private technology businesses, particularly those at the forefront of AI. A large proportion of technology value creation now occurs before companies reach public markets, leaving traditional equity investors excluded from […]
A listed gateway to private AI Shaires Holdings Ltd (SHR) is seeking to provide public market investors with exposure to some of the world’s largest private technology businesses, particularly those at the forefront of AI. A large proportion of technology value creation now occurs before companies reach public markets, leaving traditional equity investors excluded from […]
A sharper edge for BGUK Baillie Gifford UK Growth Trust (BGUK) offers a different way to invest in the UK through a concentrated portfolio of high-quality growth companies. Performance has been held back by a long period in which UK growth investing has been out of favour. Even so, many holdings have continued to make […]
A sharper edge for BGUK Baillie Gifford UK Growth Trust (BGUK) provides access to the UK market through a concentrated portfolio of growth companies. Its performance appears to have been affected by a prolonged period in which UK growth investing has been out of favour. However, the trust states that many portfolio companies have continued […]
A sharper edge for BGUK Baillie Gifford UK Growth Trust (BGUK) offers a differentiated way to access the UK market through a concentrated portfolio of high-quality growth companies. Its performance has been held back by a prolonged period in which UK growth investing has been out of favour. However, many portfolio companies have continued to […]
Ageing well Temple Bar (TMPL) turned 100 earlier this year and continues to perform strongly. Its one-, three-, and five-year returns are at or near the top of its peer group, and its dividend keeps rising. The managers also continue to take a contrarian approach, finding attractively valued stocks in a UK market that is […]
Ageing well Temple Bar (TMPL) turned 100 earlier this year. Its one-, three-, and five-year returns are at or near the top end of its peer group, the dividend has continued to climb, and the managers state that they continue to swim against the tide, identifying stocks they consider interesting and attractively valued in a […]
Ageing well Temple Bar (TMPL) turned 100 earlier this year but shows no signs of slowing down. Its one-, three-, and five-year returns are at or near the top end of its peer group, the dividend continues to climb, and the managers continue to swim against the tide, finding interesting and attractively valued stocks in […]
Ready for a growth revival? Montanaro European Smaller Companies (MTE) is a growth-focused European smaller companies fund. Its manager observes that, in recent years, it has faced headwinds, with value investing more in favour in Europe and elsewhere. Earlier this year, performance was impacted by a sell-off in software companies as investors considered the potential […]
Ready for a growth revival Montanaro European Smaller Companies (MTE) is an unapologetically growth-focused European smaller companies fund. As such, it has faced significant headwinds in recent years, with value investing much more in favour in Europe and elsewhere. Earlier this year, performance was affected by a sell-off in software companies as investors considered the […]
Ready for a growth revival Montanaro European Smaller Companies (MTE) is a growth-focused European smaller companies fund. It has faced strong headwinds in recent years as value investing has been more popular in Europe and elsewhere. Earlier this year, performance was hurt by a sell-off in software shares as investors weighed the potential impact of […]
Diversification pays dividends Foresight Environmental Infrastructure (FGEN) has benefited from its diversified portfolio during a period of high regulatory and market uncertainty for renewable energy. Lower power price forecasts and policy changes, including revisions to inflation-linked renewable subsidies, the planned removal of the Carbon Price Support mechanism and the extension of the Electricity Generator Levy, […]
Diversification pays dividends Foresight Environmental Infrastructure (FGEN) appears to have benefitted from its diversified portfolio during a period of significant regulatory and market uncertainty for the renewable energy sector. Whilst reductions in power price forecasts and government policy changes – including revisions to inflation-linked renewable subsidies, the planned removal of the Carbon Price Support mechanism […]
Diversification pays dividends Foresight Environmental Infrastructure (FGEN) has demonstrated the benefits of its diversified portfolio during a period of significant regulatory and market uncertainty for the renewable energy sector. Whilst reductions in power price forecasts and government policy changes – including revisions to inflation-linked renewable subsidies, the planned removal of the Carbon Price Support mechanism […]
Global growth with a wider lens After a tough period for growth investing, Monks Investment Trust (MNKS) has seen its performance improve markedly over the past year, helped by holdings such as TSMC, NVIDIA, SpaceX and Schiehallion. With the economic outlook becoming less certain, the managers have been adjusting the portfolio to allow it to […]
Global growth with a wider lens After a difficult period for growth investing, Monks Investment Trust (MNKS) has seen its performance improve markedly over the past year, helped by contributions from holdings such as TSMC, NVIDIA, SpaceX and Schiehallion. However, the economic landscape is becoming less certain, and MNKS’ managers have therefore been repositioning the […]
Global growth with a wider lens After a tougher period for growth investing, Monks Investment Trust (MNKS) has seen its performance improve over the past year, with contributions from holdings such as TSMC, NVIDIA, SpaceX and Schiehallion. MNKS’ managers observe that the economic landscape is becoming less certain and have been repositioning the portfolio with […]
Set fair for the future? Polar Capital Global Healthcare (PCGH) has delivered relative outperformance against its benchmark. It has achieved this despite headwinds, including some investors’ concerns over the policies of Donald Trump and performance in other sectors, notably technology. The endorsement by shareholders of its package of measures in November (which was covered in […]
Set fair for the future Polar Capital Global Healthcare (PCGH) has delivered strong returns and outperformed its benchmark, despite challenges including concerns over Donald Trump’s policies and strong gains in other sectors like technology. Shareholders showed confidence in the trust by backing its package of measures in November (which we covered in our last note […]
Set fair for the future Polar Capital Global Healthcare (PCGH) has delivered good returns for its shareholders, and the relative performance against its benchmark is strong. It has achieved this despite headwinds, from concerns over the policies of Donald Trump and runaway performance in other sectors, notably technology. The resounding endorsement by shareholders of its […]
Is there an irrational bias against financials? Financials stocks remain undervalued relative to other sectors and to history. The relative advances that the sector had made earlier in 2026 have been given up, but Polar Capital Global Financials Trust (PCFT) has outperformed in 2026 in NAV terms YTD, helped by some good stock selection decisions […]
Is there an irrational bias against financials? Financials stocks remain undervalued relative to other sectors and to history. The relative advances that the sector had made earlier in 2026 have been given up, but Polar Capital Global Financials Trust (PCFT) has outperformed in 2026 in NAV terms YTD, helped by some good stock selection decisions […]
Is there an irrational bias against financials? Financials stocks are still undervalued compared to other sectors and their historical averages. Although earlier gains in 2026 have been lost, Polar Capital Global Financials Trust (PCFT) has outperformed this year in NAV terms, thanks to strong stock selection by its managers. Some PCFT holdings are already showing […]
It’s a rollover! JPMorgan European Growth and Income (JEGI) has been chosen as the default rollover option for the proposed reconstruction of European Opportunities Trust (EOT). JEGI investors will already be aware that the trust has the best long-term track record within its peer group. Any assets that rollover from EOT will help improve liquidity […]
It’s a rollover! JPMorgan European Growth and Income (JEGI) has been chosen as the default rollover option for the proposed reconstruction of European Opportunities Trust (EOT). JEGI investors will already be aware that the trust has the best long-term track record within its peer group. Any assets that rollover from EOT will help improve liquidity […]
Powering ahead Ecofin Global Utilities and Infrastructure (EGL) has delivered strong absolute and relative performance and has been attracting attention. The board’s focus on controlling the discount has removed short-term shareholders, enabling the trust’s shares to trade at a premium and allowing it to expand again. There are good reasons why share issuance is likely […]
Powering ahead A good run of absolute and relative performance by Ecofin Global Utilities and Infrastructure (EGL) is attracting attention. The board’s strong focus on discount control has removed loose and discount-driven shareholders and paved the way for the trust’s shares to trade at a premium, enabling it to re-expand. There are good reasons why […]
